World News
Windward Sees Average 10% Bunker Savings From New Fuel Consumption Monitoring Tool
London-listed maritime software company Windward has launched a new tool using artificial intelligence to monitor ships' fuel consumption, delivering 10% fuel savings on average.
The firm's Vessel Fuel Consumption API assesses fuel consumption with up to 95% average accuracy per voyage, as well as providing actionable insights, the company said in an emailed statement on Monday.
The tool will help shipping companies to optimise chartering decisions, negotiate better TCE rates, monitor vessels for malfunctions and benchmark fleets. The firm says a 10% saving in fuel costs can be delivered on average.
"The first step towards decarbonizing the maritime industry is improving the visibility of vessels' fuel consumption," Ami Daniel, CEO of Windward, said in the statement.
"Environmental concerns and ESG are primary goals for both companies and consumers.
"We are approaching the point of no return and providing accurate assessments of consumption is key in making business decisions that are both economical and more importantly, environmentally conscious.
"We are proud to use our maritime expertise and AI to contribute to the industry's efforts in creating a sustainable future and protecting the environment for future generations."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 553.50 | 0.00 | 673.00 | 0.00 |
| Rotterdam | 514.50 | 0.00 | 651.00 | 0.00 |
| Houston | 545.00 | 0.00 | 671.00 | 0.00 |
| Fujairah | 543.00 | 0.00 | 747.00 | 0.00 |
| Global 20 Ports Average | 574.00 | 0.00 | 748.00 | 0.00 |
| Global 4 Ports Average | 539.00 | 0.00 | 685.50 | 0.00 |
| Global Average Bunker Price | 627.00 | 0.50 | 799.50 | 1.00 |
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